Taiwan Protection and National Resilience Act of 2023
This bill requires reports to Congress addressing issues related to China, including a strategy to respond to coercive actions by China.
The Department of Defense must submit a report identifying goods and services from the United States that China relies upon and U.S. military procurement practices that are reliant on trade with China.
The bill also requires the Department of the Treasury to submit a sanctions strategy that could be used in response to any coercive action by China, including a Chinese invasion of Taiwan, to (1) limit the ability of China's military to acquire petroleum and military materiel, (2) diminish the ability of the Chinese industrial base to replenish defense articles, and (3) inhibit China's ability to evade sanctions. The strategy must identify specific sanctions-related tools that may be effective in responding to coercive action.
The Department of Commerce must submit a report that (1) identifies critical sectors of the U.S. economy that are strategic vulnerabilities that could be exploited by the Chinese Communist Party because the sector in question relies on Chinese trade or inputs, and (2) makes recommendations to reduce such vulnerabilities.
Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
Ordered to be reported with an amendment in the nature of a substitute favorably.